How to use the template for the Business Model Canvas
The Business Model Canvas is a framework to help plan business innovation models that address the needs of all of your customer segments.
The traditional approach to planning for the next financial year is to develop a business plan. However, smart companies around the world use this Business Model Strategy Canvas instead.
Complete the canvas with your business model as it is today. Then populate another copy in line with your vision for 3 years from now, including your key activites. Use the guidance points on the business model canvas and the completed Amazon example below.
- Print the blank canvas and instructions (A3 ideally)
- Get together with your team
- Start with the Value Proposition box in the blue section. Define your value proposition for each of your customer segments and how it addresses and meets their:
- Jobs to be done (tasks and problems to solve)
- Pains (frustrations and risks)
- Gains (positive outcomes & benefits from completing their ‘jobs to be done’)
- Fill in the remaining boxes on the right-side (Customer Relationships, Customer Segments and Channels) these sections give you the elements that assess the desirability of your offering. Do your customers want it?
- Fill in the boxes on the left-side (Key Partners, Activities, Resources and Value Proposition) to work out if your model is feasible. Is it feasible?
- Fill in the bottom two boxes – Cost Structure and Revenue Streams – these will ensure the viability of your offerings – a sanity check. Is it viable?
- Finally, consider how you could validate or invalidate your assumptions using experiments. Could you build and test a prototype? Or test interest online using landing pages?
Guidance on completing the Business Model Canvas
Example of a completed Business Model Canvas
Visit our Business Strategy hub to discover how to develop a business strategy.
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